[Verse 1] Back in seventy-three the world changed overnight Oil embargo hit and prices took flight What was cheap before now costs so much more Supply shock knocking at our economic door When oil goes up everything follows suit Transportation, heating, there's no substitute [Chorus] Supply shock blues, prices rising high Output falling down, we can't deny Policy makers trapped between the lines Fight inflation or save jobs this time Negative supply shock, that's the name Nineteen seventy-three changed the game [Verse 2] Picture this dilemma facing those in charge Tighten up the money make the problem large Unemployment rises when you fight the price But ease the policy and inflation's not so nice It's a cruel choice with no perfect way Damned if you do, damned either way [Chorus] Supply shock blues, prices rising high Output falling down, we can't deny Policy makers trapped between the lines Fight inflation or save jobs this time Negative supply shock, that's the name Nineteen seventy-three changed the game [Bridge] Oil up, output down, that's the equation Feasible production hits limitation Tightening hurts workers, easing feeds the fire Economic policy caught in the mire US and Canada, the global scene The worst economic trap we'd ever seen [Chorus] Supply shock blues, prices rising high Output falling down, we can't deny Policy makers trapped between the lines Fight inflation or save jobs this time Negative supply shock, that's the name Nineteen seventy-three changed the game [Outro] Remember this lesson from history's page When supply shocks hit, it defines the age The regime break year we can't forget Seventy-three's economic threat
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